Ashiana Housing approves rights issue to raise Rs 10.50 Crores

Ashiana Housing Ltd has announced that the Board of Directors of the Company, at its meeting held on April 02, 2009, has considered and approved raising of funds upto Rs 10.50 Crores (Rupees Ten Crores Fifty Lacs Only) by issue of shares on Rights Basis (Rights Issue) to the existing shareholders of the Company in the ratio and at the price to be decided by the Board at a later date.

Further, the Board of Directors has appointed M/s. V C Corporate Advisors Pvt Ltd., Kolkata as Lead Manager to the proposed Rights Issue of the Company.

The stock closed the day at Rs.32.80, down by Rs.0.15 or 0.46%. The stock hit an intraday high of Rs.35.20 and low of Rs.32.70.

The total traded quantity was 2720 compared to 2 week average of 3683.

Source : Equity Bulls

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